GDB No 2:
Critics of Adam Smith on Utilitarianism
Adam Smith was a Scottish moral philosopher and he worked on political economy. His famous book “The Wealth of Nations” considered as the pioneer in providing the fundamental grounds for ethical and moral perspective of economies and established the criterion of redefining the meaning of Utility.
Utilitarianism is a theory in normative ethics holding that the proper course of action is the one that maximizes utility, usually defined as maximizing total benefit and reducing suffering or the negatives. This theory is an economic analysis that is human-centered (or anthropocentric) and has a moral foundation (Goodstein, 2011).
You have learned this concept in detail. Adam Smith has some assumptions and his arguments are based on these postulates. You are required to identify those areas which are highlighted by Adam Smith in the course of morality and ethics for a society as a whole.
Goodstein, Eban (2011). "Chapter 2: Ethics and Economics". Economics and the Environment. Wiley. p. 26. ISBN 978-0-470-56109-6.